Low Interest Credit Cards

Exploring Low Interest Credit Cards and their benefits

Introducing the credit cards with consistent low interest rates

We are a credit broker, not a lender.

Low interest credit cards vs 0% interest credit cards

Some credit cards - including balance transfer and 0% purchase credit cards - offer an interest-free introductory period when you first open your credit card account. This could be ideal if you're looking to clear an existing credit card balance without incurring any further interest, or you want the option to spread the cost of a large, one-off purchase.

The important thing to remember about 0% interest credit cards is that the interest-free period is limited. Any outstanding balance on your credit card account after the interest-free period ends will be charged at your standard interest rate(s); you can view your standard interest rate(s) before you sign a credit agreement.

Here's how it works...

Use your low interest credit card to make a purchase.

Pay at least the minimum repayment due on time each month.

Any outstanding balance on your credit card account will be charged interest at your standard interest rate(s).

What is an APR?

APR stands for Annual Percentage Rate. APR simply refers to the overall cost of borrowing over the course of a year, which consists of the interest and, if applicable, an annual fee. The APR does not include any fees that you may be charged as a result of late or missed repayments.

You may not necessarily be offered the APR advertised. Some providers will only display a Representative APR, which is the rate 51% of customers have been offered when applying with that provider. The APR you are offered will depend on a number of factors such as your credit score and financial history.

Things you may love about low interest credit cards

Low interest rates could mean that you are able to comfortably spread the cost of purchases by repaying at least the minimum payment amount each month.
Some low interest cards may offer an introductory 0% interest period.

Things to consider before applying for a low interest credit card

The low interest rate usually applies to purchases only, and doesn't cover other types of transactions, such as cash withdrawals.
Missing or making a late repayment may result in you losing your low interest rate.
As with any credit product, if you are late making your monthly payment, or miss a payment altogether, you could be charged a late fee. This could also damage your credit score.

Who can apply for a low interest credit card?

Each credit card provider will have their own eligibility criteria. However, in general, to apply for a credit card you must:

Be a UK resident with 3 years' UK address history;
Have a UK-issued bank account with a valid debit card;
Have a regular income paid directly into your UK bank account; and
Be over the age of 18.

How to choose the right low interest credit card for you

Look for the lowest interest rate credit card. Many credit cards come with an APR over 20%, so anything below this could be considered low.
If your credit card has an introductory 0% interest offer you should be aware that, once your promotional period comes to an end, any outstanding balance will be charged at your standard interest rate(s).
Familiarise yourself with any additional fees and charges, including annual fees, if applicable. Compare between credit cards to make sure you get the best product for you.

Need a little extra help finding the right credit card?
No problem – Compare Credit Cards are happy to lend a hand.

The Compare Credit Cards process

Low interest rates, 0% interest rates, balance transfers… sifting through the financial jargon can be mind-boggling.
Here at Compare Credit Cards, we do the hard work for you. Our service is transparent and our process has been put together with you in mind; you won't find any confusing terminology or lengthy forms here.

Our straightforward Eligibility Checker should take no longer than five minutes to complete.

All done? Sit back and relax for 60 seconds while we run a soft search and check our panel for the right credit cards to suit you.

If we've been able to match you to one or more credit cards, we will display the results.

Read through the information for each credit card before making a decision. We'll also let you know how likely you are to be approved for each, helping you narrow down the search.

If you wish to apply for a credit card, you can click through to the provider's website and make a full application. Be aware that the provider will need to run a hard credit search plus any additional checks they require.

Why use Compare Credit Cards?

Protect your credit score. When you apply directly with a credit card provider, they will run a hard credit search as part of the application process. Applying with multiple lenders could result in multiple hard searches and, over a short space of time, this could lower your credit score. Compare Credit Cards use soft search technology to find the right credit card for you, with no impact to your credit score.
We save you time by scanning our panel of providers for you, taking out the guesswork of applying.
Simple online eligibility check.
Your results in just 60 seconds.
Compare Credit Cards is a free, no obligation service.

COMPARE CREDIT CARDS

Digitonomy Limited trading as Compare Credit Cards is not a lender but is a fully regulated and authorised credit broker which introduces borrowers and lenders for the purposes of entering into consumer credit agreements.

Compare Credit Cards does not charge customers a fee for using its broker services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through this website.

Compare Credit Cards will provide every effort to present you with Credit Cards you may be eligible for. If we are not able to do this, we may present you with alternative credit products. You are under no obligation to proceed with these if you feel they are not suitable for your circumstances.

Compare Credit Cards is a registered Trading Name of Digitonomy Limited, Registered in England and Wales (Company number 08385135), Registered Office; Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Digitonomy Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 690249. Licenced by the Information Commissioners Office, (registration number ZA007309).